ECA GROUP awarded around 4 M EUR contract for the supply of steering consoles for South Korean submarine JANGBOGO III

ECA GROUP is once again awarded the supply of steering and diving consoles for South Korea Navy's 1st submarine of JANGBOGO III (Batch II), after having successfully delivered this equipment for the first batch of 3 submarines in 2016, 2018 and 2019.

In June 2020, DSME has once again renewed his trust into ECA GROUP expertise by awarding a new contract to supply the Steering and Diving Consoles for the 1st submarine of South Korean's programme JANGBOGO III – Batch II Class. The equipment will be delivered by 2023 and operational tests will be completed by 2027.

ECA GROUP, a reliable partner within the JANGBOGO III programme

The South Korean Navy's JANGBOGO III submarine project began in 2014. ECA GROUP was chosen to deliver the Steering and Diving Consoles (SNDC). In the past 5 years, ECA GROUP has been chosen for the third consecutive time to supply further submarine steering and diving consoles for this navy.

ECA GROUP intends to maintain its efforts to satisfy the Korean Navy by providing them with best quality equipment while meeting their operational requirements.

ECA GROUP simulation expertise also brought to the project

After the latest SNDC delivery in 2019, ECA GROUP was also entrusted the supply of 2 Steering and Diving Simulators of delivered SNDC equipment for training purposes for South Korean officers and operators.

The SNDC simulators will enable the South Korean Navy to:

• Train their submariners for Jangbogo III - Batch 1 Steering and Diving Consoles, thanks to a performant system recreating accurately the equipment's behaviour as in real underwater conditions
• Train their maintenance crews. By reproducing possible breakdowns, operators will learn how to fix them effectively without damaging the SNDCs onboard.

ECA GROUP team has successfully carried out the Factory Acceptance Test demonstrating the capability of these simulators to operate exactly like the Steering Consoles installed onboard submarines. Should other submarines be built as part of this programme, ECA GROUP will put its know-how and experience at the service of this navy.

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This press release could contain statements on past events and forward-looking statements including statements regarding future goals or targets. Forward-looking statements reflect current expectations for results and future events.

Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ materially from those anticipated herein. All these risks and uncertainties could affect the Group's future ability to achieve its targets. Risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements and targets include, among other things: the risks and uncertainties mentioned in the press release; the strength of competition; the continuing growth of the market; currency fluctuations; interest rate fluctuations; raw material price fluctuations; armed conflicts or political instability; control of costs and expenses; changes in tax legislation, rules, regulation or enforcement; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel and key personnel; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; supply chain and manufacturing bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.).

Some of these risk factors are set forth and detailed in our Document de référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers). This list of risks, uncertainties and other factors is not limitative. Other non- anticipated, unknown or unforeseeable factors could also have material adverse effect on our targets.

ECA Group

Recognized for its expertise in robotics, automation systems, simulation and industrial processes, ECA Group has been developing complete, innovative technological solutions for complex missions in hostile and confined environments since 1936. Its product offering is designed for an international client base that is demanding, both in terms of safety and effectiveness. The Group's main markets are in the defense, maritime, aeronautics, simulation, industrial and energy sectors.

In 2018, the Group reported revenue of €102.1 million across its three divisions: Robotics, Aerospace and Simulation.

ECA Group is a Groupe Gorgé company.

The ECA Group is listed on Euronext Paris Compartment C.

ISIN Code: FR0010099515 | Ticker Code: ECASA – Bloomberg Code: ECASA

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